BREN Becomes Indonesia's Largest Company by Market Capitalization, May 3, 2024

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Erlina Fury Santika 05/05/2024 14:10 WIB

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Prajogo Pangestu's company, PT Barito Renewables Energy Tbk (BREN), topped the list of companies with the largest market capitalization in Indonesia as of May 3, 2024.

Top 10 Companies by Market Capitalization in Indonesia (May 3, 2024)

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BREN Becomes Indonesia's Largest Company by Market Capitalization, May 3, 2024

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Top 10 Companies by Market Capitalization in Indonesia (May 3, 2024)

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Prajogo Pangestu's company, PT Barito Renewables Energy Tbk (BREN), tops the list of companies with the largest market capitalization in Indonesia. Data from the Indonesia Stock Exchange (IDX) reveals that BREN's market value reached Rp1,321 trillion at the close of trading on Friday (May 3, 2024).

This value surpasses that of other large companies. For example, PT Bank Central Asia Tbk (BBCA), with Rp1,202 trillion, is now just below BREN after holding the top spot for a considerable time.

Third is PT Bank Rakyat Indonesia (BBRI) at Rp713 trillion. Fourth is PT Amman Mineral Internasional Tbk (AMMN) at Rp709 trillion.

Fifth place is again filled by an issuer owned by Prajogo Pangestu, namely PT Chandra Asri Pacific Tbk (TPIA) at Rp670 trillion. Others include BYAN, BMRI, and BBNI, as shown in the graph.

Despite topping the list of issuers with the largest market capitalization, BREN's stock trading was temporarily suspended by the exchange due to a significant increase in its share price. According to *Katadata*, BREN's last share price was at Rp9,875 per share.

In terms of performance, BREN's net profit in Q1 2024 reached US$28.83 million, or approximately Rp467.18 billion (using an exchange rate of Rp16,201 per US$). The company's net profit fell slightly by 1% year-on-year (YoY) compared to the same period last year, which reached US$29.24 million or Rp473.79 billion.

Here are the top 10 issuers with the highest market capitalization in Indonesia (May 3, 2024):

1. PT Barito Renewables Energy Tbk (BREN): Rp1,321 trillion
2. PT Bank Central Asia Tbk (BBCA): Rp1,202 trillion
3. PT Bank Rakyat Indonesia (BBRI): Rp713 trillion
4. PT Amman Mineral Internasional Tbk (AMMN): Rp709 trillion
5. PT Chandra Asri Pacific Tbk (TPIA): Rp670 trillion
6. PT Bayan Resources Tbk (BYAN): Rp637 trillion
7. PT Bank Mandiri (Persero) Tbk (BMRI): Rp568 trillion
8. PT Telkom Indonesia Tbk (TLKM): Rp313 trillion
9. PT Astra International Tbk (ASII): Rp212 trillion
10. PT Bank Negara Indonesia (Persero) Tbk (BBNI): Rp178 trillion.

(See also: Early 2024, Market Value of Prajogo Pangestu's Issuers Falls Collectively)

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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BREN Becomes Indonesia's Largest Company by Market Capitalization, May 3, 2024

BREN Becomes Indonesia's Largest Company by Market Capitalization, May 3, 2024

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